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Bailout

: Macroprudential

Bureaucratic fantasy of the day

By Felix Salmon

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Emanuel Derman wins the day with this:

I had a fantasy in which the Fed and the TSA (Transportation Security Administration) switched roles.

If a bank failed at 9 a.m. one morning and shut its doors, the TSA would announce that all banks henceforth begin their business day at 10 a.m.

And, if a terrorist managed to get on board a plane between Stockholm and Washington, the Fed would increase the number of flights between the cities.

Full post as published by Macroprudential on December 30, 2009 (boomark / email).

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